What is the duration of the franchise agreement that the transferee of a Crisp & Green franchise must agree to?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
e Premises for the operation of a CRISP & GREEN Restaurant as contemplated by the Franchise Agreement is in compliance with, and does not violate, any restriction or covenant regarding use of the Premises, and (ii) no other party has any contractual right inconsistent with the use of the Premises for the operation of a CRISP & GREEN Restaurant.
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- Assignment. Tenant has the right to assign all of its right, title and interest in the Lease to Franchisor, or its affiliates, at any time during the term of the Lease, including any extensions or renewals, without first obtaining Landlord's consent to such assignment; provided, however, no assignment of the Lease will be effective until Franchisor or its designated affiliate gives Landlord written notice of its acceptance of such assignment.
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
Based on the 2024 Crisp & Green Franchise Disclosure Document, the duration of the franchise agreement for a transferee is not explicitly detailed within the provided excerpts. The excerpts focus on the franchisor's right to accept assignment of the lease upon the tenant's default or the expiration/termination of the franchise agreement. It also mentions that a franchisee shall agree to operate the premises pursuant to a franchise agreement with Crisp & Green.
However, the specific terms and conditions that a transferee would need to agree to, including the duration of the franchise agreement, are not outlined. The document does mention the landlord's agreement to allow the tenant to remodel and display proprietary marks and signs pursuant to the Franchise Agreement, implying adherence to the existing agreement's terms.
To fully understand the obligations and term length for a transferee, a prospective franchisee should directly inquire with Crisp & Green about the specific terms that would apply in the event of a transfer. This includes clarifying whether a new franchise agreement is required, and if so, what its duration and conditions would be.